Employee vs. Independent Contactor

An employer may pay an independent contractor and an employee for the same or similar work, but there are important differences between the two with potentially costly consequences. Read to find out more.

Surprised by Your 2018 Tax Bill?

With the massive overhaul to the code in 2018, many filers are finding out that their tax situation has changed. The IRS has announced that it will waive the underpayment penalty for taxpayers who paid at least eighty-five percent of their total tax liability during calendar year 2018

Should I Cash Out My 401(k) or Roll it Over?

When a participant in a 401(k) Plan terminates employment, there are typically a few options they have regarding what to do with their plan. Take a cash distribution – This is a taxable event (assuming all funds are pre-tax funds). The plan will automatically withhold 20% for fe

W-2 and 1099s Due Date Reminder

With the coming of a new year means W-2s and 1099s are due right around the corner. The due date for both is January 31, 2019. You will need the following information in order to accurately and timely report your 1099s: Social Secuirty Number or Federal Identification Number Individua

How The New Tax Law May “Drive” Your Decision Making

The Tax Cuts and Jobs Act revamped tax depreciation in several ways, one in particular being the way vehicle depreciation limits are calculated. Below is a summary of the vehicle depreciation limits prior to the new tax law vs. the vehicle depreciation limits under the new tax law. Pl